Items Tagged with 'arbitration rule'

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Tuesday, the U.S. Department of the Treasury released a 21-page report entitled Regulatory Reform Accomplishments Under President Trump’s Executive Orders, which, as the title suggests, details the actions it has taken toward decreasing regulations.

The Consumer Financial Protection Bureau’s arbitration rule was finally revoked from the Federal Register, officially nullifying the rule. The Federal Register published the notice on Wednesday, making it effective immediately.

Consumer Financial Protection Bureau Director Richard Cordray slammed President Donald Trump’s decision to revoke the arbitration rule. However, there is still no official word on the bureau’s website about the rule getting overturned.

President Donald Trump officially killed the Consumer Financial Protection Bureau’s arbitration rule earlier this month. However, consumers wouldn’t know, especially if they are looking on the bureau’s website.

The battle over the Consumer Financial Protection Bureau’s highly contested arbitration rule is finally over. President Donald Trump signed a resolution on Wednesday to officially revoke the rule. The arbitration rule is dead.

“Many have told me I am wasting my time writing this letter – that your mind is made up and that your advisors have already made their intentions clear,” Cordray told Trump in a letter. “But you are a smart man, and I think we both know what is really happening here.”

After a hard-fought battle and a tie-breaking vote, the repeal of the CFPB’s new arbitration rule passed the House and Senate, and now awaits the president’s signature. While some groups have applauded the Senate for its actions, others said it was a giant step back for every consumer in the U.S.

The Consumer Financial Protection Bureau’s new arbitration rule continues to take fire from all sides with the latest attack directed from the U.S. Department of the Treasury. A new report shows the rule would impose extraordinary costs, and that the CFPB failed to justify the need for these costs.

The latest attack on the Consumer Financial Protection Bureau’s arbitration rule comes from the finance industry. Several finance groups and chambers of commerce filed a lawsuit challenging the rule, listing four reasons why the rule is invalid and should be set aside.

Commentary

Every day, people in your community are looking for a new place to call home. But in the age of the digital shift, they are now getting most of that information from their mobile devices rather than more traditional sources.